How to prepare for Win Win Negotiation ?

A discussion among individuals to reach to an alternative which involves the interest of all the participants is termed as negotiation. An individual must try his level best to negotiate with each other and reach to a common conclusion to avoid conflicts and misunderstandings. In a win win negotiation both the two parties are benefited and both of them get whatever they expect.

One needs to prepare well for a win win negotiation:

The first and the foremost requirement for an effective negotiation is preparation. One should be well prepared before going for a negotiation. Dont attend negotiations just for the sake of it. Make it a habit to go through even the minutest details related to the deal. Check all the related websites and gather as much information as you can. If you intend buying a pen, try to check out the prices of other leading brands as well. For expensive items, it is always better to check a few shops before finalizing the product. The second party might ask you anything and you should be ready with your facts. Never be in a rush. For business deals, check out all the relevant documents so that you dont miss out anything. Do carry all the necessary documents along with you at the time of negotiation, you might need them.

One should be very specific about his expectations from the negotiation. The purpose of the negotiation must be clear. Why do you need the negotiation? What purpose will it solve? Dont be in a confused state of mind. Be focused and dont change your mind quite often. If you expect a particular salary, its better to stick to it. If you have the caliber and talent, you will definitely get what you want but it is important to have realistic expectations. Dont expect anything you yourself know is not possible.

One should always be ready with an alternate plan. Dont rely on a single plan. It might not work out sometimes. You should always have some other option to convince the other party else you might end up sitting blank at the time of discussion.

If you want to purchase a laptop and you have decided to ask for a discount but you realize that the shopkeeper is a little reluctant to offer the discount, dont start fighting with him. Dont be adamant. You can always ask for a laptop bag or probably some accessories. Learn to be a little tactful and intelligent

Be transparent and honest with the second party. Lies and manipulations never help. Honesty always pays in the long run. Dont hide anything from the other party. If you hide the terms and conditions, the deal might turn in your favour but you might land yourself in trouble later. If you are honest with the second party, you will be at peace and there is no need to worry at all.

Be very confident. Never show your need and helplessness to anyone. You might be in dire need of something, but keep the feelings to yourself only. A business deal might be very crucial for your promotion but the second party must not come to know about this, otherwise he will try to act pricy. Show a positive attitude and do flaunt your smile more often.

Understand the second party well. Try to find out more about his needs and interests as well. You have to take into consideration his expectations as well. Do not decide on something which would not be feasible for the other party. One should try his level best to come to a conclusion which would make both the parties happy.

Be a good communicator. Dont play with words; make sure you carefully chose relevant words. Avoid using foul words against anyone; it goes a long way in spoiling the ambience. There are other ways by which you can show your displeasure. Avoid being rude to anyone. Be precise and crisp in your speech. Take care of your tone and pitch as well. It should not be too high and must be audible to all. Dont stammer in between.

Take care of your dressing as well. An individual must be well dressed for a negotiation. Dont adopt a casual approach as the other person will never take you seriously. Prefer wearing formals to create the desired first impression on others.

An individual should learn to compromise to his best extent possible. One must know where to compromise as it is important to reach to a conclusion. Remember you cant get everything. If everyone is rigid on his views, no conclusion would ever come out. For a win win negotiation, it is better if the individuals try to adjust with each other and decide on something best suited to all.

Once you are done with the negotiation, do sign contracts and agreements in the presence of both the parties. Make sure that all the necessary terms and conditions are mentioned clearly in the contract.

One must go with a positive attitude for a win win negotiation. Adopting a negative attitude will lead to negativity all around. Dont pretend, just be yourself and things will definitely fall into place.

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The article is Written By Prachi Juneja and Reviewed By Management Study Guide Content Team. MSG Content Team comprises experienced Faculty Member, Professionals and Subject Matter Experts. We are a ISO 2001:2015 Certified Education Provider. To Know more, click on About Us. The use of this material is free for learning and education purpose. Please reference authorship of content used, including link(s) to ManagementStudyGuide.com and the content page url.

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